Yokohama, Japan, March 29, 2002 (JCN Newswire)
- INNOTECH Corporation (JASDAQ: 9880), one of Japan's leading
semiconductor trading companies, announced that its financial
results for the year ending March 31, 2002, will be lower
than the Company's previously stated estimates made on
November 22, 2001 in its interim financial results. Details
of the changes follow.
Revisions to Consolidated Forecast
| Units: Millions of yen except
where indicated otherwise |
| |
Net Sales |
Ordinary Profit |
Net Income |
| Previous forecast (A) |
32,000 |
400 |
40 |
| Revised forecast (B) |
32,000 |
470 |
(160) |
| Change (B-A) |
0 |
70 |
(200) |
| Relative change |
0.0% |
17.5% |
- |
Reason for the Revisions
The net income forecast has been revised down to an expected
net loss of 160 million yen due to an extraordinary loss
of approximately 330 million yen caused by a fall in the
value of investments in securities.The securities in question
were mainly shares of banks.
About INNOTECH Corporation
Founded in 1987, INNOTECH is Japan's premier importer
of high-end semiconductor devices and equipment and a skilled
support partner to many of Japan's top electronics makers.
The Company maintains direct relationships with every major
semiconductor manufacturer in Japan. Today's INNOTECH is
a high-paced company that prides itself on making swift
but informed decisions to keep up with the pace of an ever-changing
electronics market. In recent years INNOTECH has begun
to leverage its built-up corporate knowledge and technological
expertise to expand in development, and licensing of our
own patented technology in Japan.
Forward-Looking Statements
Statements made on this news release with
respect to INNOTECH Group's (INNOTECH and its subsidiaries
and affiliated companies) current plans, estimates, strategies
and beliefs and other statements that are not historical
fact are forward-looking statements about the future performance
of the INNOTECH Group. These statements are based on management's
assumptions and beliefs in light of the information currently
available to it and therefore undue reliance should not
be placed upon them in making investment decisions. The
INNOTECH Group cautions that a number of important factors
including, but not limited to: changes in general economic
conditions, exchange rate fluctuations, conditions in the
semiconductor and electronic components industry, could
cause actual results to differ materially from those discussed
in the forward-looking statements. |
